(Riga Graduate School of Law, 2020) Ārinieks, Edgars; Krūmiņš, Toms; Riga Graduate School of Law
The aim of this thesis is to understand the term “beneficial owner” and look at the implementation of beneficial ownership register in the Baltic States, i.e., Latvia, Lithuania, and Estonia. The term “beneficial owner” is very popular, as it relates to topics such as anti-money laundering, counter-terrorist financing, tax evasion, and corruption. All over the world, the problems mentioned before are being addressed at the national level. The European Union and its member states, as well as international institutions such as The Financial Action Task Force, The Organisation for Economic Co-operation and Development and The Egmont Group, are working together to develop the legal framework for the term “beneficial owner”. To understand the term “beneficial owner” the thesis looks at the historical and the existing European legislation and the purpose of the term “beneficial owner”. The thesis also looks at how the term “beneficial owner” is reflected in corporate governance. Finally, the thesis looks at how the register of beneficial ownership is introduced in the Baltic States.